Term deposits

In order to open a term deposit in Coop Pank, you have to have a current account with us. Deposits can be opened in our Internet bank or mobile app, or at the bank office.

You can also open a deposit with a future date. This means that the full amount to be transferred to the deposit must be in your current account on the starting date of the deposit.

Term deposits can be opened for anywhere from 1-120 months, i.e. up to 10 years.

The deposit’s interest rates are calculated on an annual basis. For example, if the annual interest rate is 4%, then the rate for a six-month deposit is 2%: if you deposit €1000 for 12 months at 4%, you’ll earn €40 interest, but for six months you’ll earn half that, i.e. €20.

Note that if you opt for monthly interest payments, the interest rate on the deposit is 0.05% lower.

Provided the deposit is active, you can change the extension conditions and the name of the deposit in our Internet bank or mobile app, or at any branch.

You can’t change the period or amount of the deposit, and you can’t make any additional payments into it.

You can opt for automatic extension when you enter into your contract, choosing whether to apply this solely to the deposit amount or to both the deposit amount and the interest.

If you opt to extend the deposit, then at the end of the period your contract is automatically extended for the same period at the current interest rate as indicated on the price list at the time (e.g. if the deposit period was previously three months, it’s extended by three months). The latest interest rates can be found here.

If you didn’t opt for automatic extension when entering into your contract, you can do this during the deposit period in our Internet bank or mobile app, or at the bank office.